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1 <br /> STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE <br /> DEVELOPMENT AGREEMENT REGARDING WATERSTONE — ORANGE RURAL <br /> FIRE DEPARTMENT/EMERGENCY SERVICES CO -LOCATION PROPERTY <br /> BY AND BETWEEN <br /> THE ORANGE RURAL FIRE DEPARTMENT , NORTH CAROLINA <br /> AND <br /> THE COUNTY OF ORANGE , NORTH CAROLINA <br /> THIS DEVELOPMENT AGREEMENT (the "Agreement" ) , made and entered into this <br /> _day of 2021 , by and between the ORANGE RURAL FIRE <br /> DEPARTMENT No . 1 INC . , a municipal corporation of the State of North Carolina, located at <br /> 206 South Churton Street, Hillsborough, North Carolina 27278 , hereafter referred to as the <br /> " ORFD , " and THE COUNTY OF ORANGE , a political subdivision of the State of North <br /> Carolina, located at 300 West Tryon Street, Hillsborough, North Carolina, 27278 , ( " County <br /> through the Orange County Emergency Services Department ( " OCES " ) . Collectively, ORFD and <br /> the County may be referred to as " the " Parties . " <br /> WITNESSETH : <br /> WHEREAS , the County and ORFD desire to undertake the development of a shared <br /> facility in the Waterstone Development in Hillsborough, North Carolina to co -locate a fire station <br /> and emergency medical services operated by ORFD and the County ; and <br /> WHEREAS , ORFD owns approximately 2+/- acre parcel of land in Hillsborough, North <br /> Carolina, located at 350 College Park Drive and further identified by Orange County parcel <br /> identification Number 9873 -244 850 ( " Property " ) , and more particularly described in Exhibit A, <br /> which ORFD acquired from the Town of Hillsborough ("Town") in May 2017 ; and <br /> WHEREAS , ORFD has conducted a facilities needs studies and determined ORFD ' s <br /> current and future needs for facilities to house ORFD operations ; and <br /> WHEREAS , ORFD and the County have each determined that they may each derive <br /> benefits for the residents of Hillsborough and the County if they can cooperatively plan and <br /> develop a j oint use facility (the " Facility " ) to house Orange Rural Fire Department and Orange <br /> County Emergency Medical Service Station, and any associated parking for the Facility <br /> collectively, referred to as "Facility" or "Facilities ") ; and <br /> WHEREAS , the County and ORFD desire to establish terms pursuant to which they will <br /> cooperate with the planning, financing, and development of the Property for a joint use Facility ; <br /> 1 <br />